SOLUTION MANUAL TO FRANK WOODS BUSINESS ACCOUNTING 14TH EDITIONS BY ALAN SANGSTER AND GORDON LEWIS

,
,ANSWERS

Note: To Save Time And Space, The Months Are Omitted In The Ledger Accounts Which Follow. The Day Of The Month Is
Shown In Brackets.


A n swer T o Q uestion 1.2A BA 1
(A) 49,000 (B) 75,100 (C) 65,800
(D) 48,100 (E) 81,300 (F) 85,900


A n swer T o Q uestion 1.4A BA 1
(a) Asset (F) Asset
(b) Asset (G) Liability
(c) Liability (H) Liability
(d) Asset (I) Asset
(e) Asset


A n swer T o Q uestion 1.6A BA 1
Assets List Wrong: Accounts Payable , Capital.
Liabilities List Wrong: Equipment, Computers.


A n swer T o Q uestion 1.8A BA 1
Fixtures Van Inventory Bank Cash Total Assets 10,910. Loan
5,000 Accounts Payable 1,910 Capital (Difference) 4,000.


A n swer T o Q uestion 1.10A BA 1
G Cook
Balance Sheet As At 30 June 2019
Non-Current Assets
Equipment 9,720
Current Assets
6,430
9,280
410
16,120
Less Current liabilities
(8,380)
17,460

17,460

, Assets Liabilities Capital
(a) Van Accounts Payable
(b) Cash Loan From F Duff
(c) Inventory
Bank
(d) Cash Capital
(e) Inventory
Accounts Receivable
(f) Inventory Accounts Payable
(g) Cash Capital
(h) Bank Accounts Payable


A n swer T o Q uestion 1.14A BA 1
J Hill
Balance Sheet As At 7 December 2019
Non-Current Assets
Equipment 6,310
Motor Vehicle 7,300
13, 610
Current Assets
8,480
3,320
9,510
485
21, 795
35,405
Current liabilities
1, 760
33, 645

33, 645




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